Clarus Wealth Advisors purchased a new stake in shares of Boeing (NYSE:BA) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 885 shares of the aircraft producer’s stock, valued at approximately $261,000.
A number of other institutional investors have also recently bought and sold shares of the business. Lipe & Dalton acquired a new position in shares of Boeing in the 3rd quarter valued at about $100,000. Burt Wealth Advisors acquired a new position in Boeing in the 3rd quarter worth about $100,000. Stonehearth Capital Management LLC acquired a new position in Boeing in the 4th quarter worth about $105,000. Solaris Asset Management LLC acquired a new position in Boeing in the 4th quarter worth about $111,000. Finally, Clear Perspective Advisors LLC raised its holdings in Boeing by 31.0% in the 2nd quarter. Clear Perspective Advisors LLC now owns 571 shares of the aircraft producer’s stock worth $113,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 70.76% of the company’s stock.
BA stock opened at $326.12 on Friday. The company has a quick ratio of 0.37, a current ratio of 1.16 and a debt-to-equity ratio of 23.74. The company has a market capitalization of $192,695.27, a PE ratio of 27.09, a P/E/G ratio of 1.69 and a beta of 1.39. Boeing has a 1 year low of $175.47 and a 1 year high of $371.60.
Boeing announced that its board has initiated a share repurchase plan on Monday, December 11th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the aircraft producer to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms recently weighed in on BA. Royal Bank of Canada reaffirmed a “hold” rating and issued a $358.00 price target (down previously from $378.00) on shares of Boeing in a report on Friday. Morgan Stanley reaffirmed a “hold” rating and issued a $373.00 price target on shares of Boeing in a report on Thursday. Barclays reaffirmed a “buy” rating and issued a $388.00 price target on shares of Boeing in a report on Wednesday. Vetr cut Boeing from a “strong-buy” rating to a “buy” rating and set a $386.80 price target for the company. in a report on Thursday, March 8th. Finally, Societe Generale set a $373.00 price target on Boeing and gave the stock a “neutral” rating in a report on Thursday, February 1st. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $365.19.
In other news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total value of $12,174,136.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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